Course Details
Excellence in Strategic Risk Management
If the thought of unseen risk lurking along your global supply chain keeps you up at night, then this course is for you. It’s impossible to eliminate all risk, but you can prepare for it by learning to identify it, analyze it, anticipate its impact and determine its probability. This must-attend seminar will help you in your quest to reduce and mitigate risk and will give you a solid understanding of risk analysis, managing risk, compliance and execution. Excel based tools and templates will be provided for weighted risk factors, financial impact and probability analysis.
Member Price: $1,595.00
VIRTUAL CLASS
Date
Jan 7-8, 2025
Location
Additional Information
Presenters
Brandon Hummons is a seasoned procurement professional with over a decade of strategic sourcing experience. He is a practitioner of modern and updated sourcing/buying processes and is deeply skilled in contract and category management, negotiations, and should-cost/benchmark data analysis.
Brandon’s primary background is in indirect procurement, managing categories such as Professional Services, Data and Information, IT, Pharmaceutical/Biotech, and Financial Services.
He was the founding chairperson of the ISM-Chicago Emerging Professionals Committee and continues to advocate for talent diversity and inclusion. He also runs his procurement strategies and business coaching firm, Hummons Consulting, LLC. Making a difference in the community is something that drives Brandon Hummons. He believes that people should pursue their passions and pursue their aspirations. Developing financial understanding, professional strategies, and educational outlook are the sole means of accomplishing the next step.
As chair of ISM Chicago’s - Education and University Connections Committee, he advocates for talent inclusion and diversity. He also consults with minority-owned and small-business enterprises on procurement strategy and business development.
In his consulting capacity, he immerses himself in the procurement initiatives of his clients. He has saved millions of dollars in indirect IT expenditure at one firm and assisted in creating an efficient procurement team from the bottom up within another.
Brandon Hummons won the 30-under-30-Megawatt Award from ISM in 2019 and the Rising Shelly Star award from ISM in 2020. His efforts focus on skill and talent development, fostering collaboration in the workplace, and results-oriented approaches that push people and businesses toward success.
Description
Learning Objectives:
- How quickly global supply chain disruptions can impact an organization
- Factors driving greater risk trends
- Impacts of leadership and culture of risk management
- What it takes to develop a risk management process
- How to identify types of risks, probabilities, likely impacts and risk profiles
- Risk management strategies, resources and tools (including Excel files)
- Ways to allocate resources, execute strategies and review results
- Legal and compliance issues in risk
- Implications to manage hazardous wastes and end of life cycle issues
- Risks associated with outsourcing
- How to establish internal control systems
Virtual Class Schedule:
Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Course Outline:
- Leading edge ways of analyzing organizational risk within the global environment – Key terms and definitions; Multiple factors increasing risk throughout the entire supply chain; Supply management’s strategic involvement to quantify risk and financial impact
- Best known methods in managing risk – Leadership and cultural implications on risk; Implementing a risk management process; Developing mitigating strategies to minimize organizational impact; Practical tools to scope mitigating strategies; Allocating resources and developing processes to proactively flag internal and external risk situations; Creating policy and procedures to define how to manage before-the-fact, during-the-fact and after-the-fact situations
- Awareness of legal implications and governmental regulations – Review of governing laws and regulations including common law, civil law, trade, health and safety, IP and environmental; Instituting control mechanisms to drive compliance; Comprehend risk through the life-cycle of a product including end-of-life hazards, costs and sustainability
- Execution of risk management including – Decision makers analyzing make-vs-buy with options to outsource both domestically and internationally; Technology to enable end to end systems capability with control features for business continuity and recovery; Impactful reporting, risk reviews and audit processes
Terms And Conditions
Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.
Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.
Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.